NatWest Group PLC

NWG: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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NatWest: We're Raising Our Fair Value Estimate as We See Bank's Franchise Value Strengthening

Niklas Kammer

Mar 13, 2026

We raise our fair value estimate for NatWest Group after incorporating good fourth-quarter results and lifting our midcycle profitability assumptions.

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NatWest Group PLC

NatWest: We're Raising Our Fair Value Estimate as We See Bank's Franchise Value Strengthening

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